Coca-Cola Consolidated, Inc. $COKE Stock Position Reduced by Vest Financial LLC

Vest Financial LLC cut its holdings in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) by 53.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 112,738 shares of the company’s stock after selling 127,867 shares during the quarter. Vest Financial LLC’s holdings in Coca-Cola Consolidated were worth $21,338,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in shares of Coca-Cola Consolidated during the second quarter worth about $26,229,118,000. Legal & General Group Plc acquired a new position in shares of Coca-Cola Consolidated during the second quarter valued at about $1,978,267,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Coca-Cola Consolidated in the 2nd quarter valued at approximately $1,591,427,000. GQG Partners LLC purchased a new position in shares of Coca-Cola Consolidated in the 2nd quarter valued at approximately $1,494,498,000. Finally, Deutsche Bank AG purchased a new position in shares of Coca-Cola Consolidated in the 2nd quarter valued at approximately $1,346,125,000. Institutional investors and hedge funds own 48.24% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Weiss Ratings upgraded shares of Coca-Cola Consolidated from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, October 16th. Wall Street Zen lowered shares of Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One analyst has rated the stock with a Buy rating. According to data from MarketBeat.com, the company has an average rating of “Buy”.

Coca-Cola Consolidated Price Performance

NASDAQ COKE opened at $214.93 on Friday. The stock’s fifty day moving average price is $194.63 and its 200 day moving average price is $188.31. Coca-Cola Consolidated, Inc. has a 1 year low of $126.00 and a 1 year high of $219.65. The company has a market cap of $14.31 billion, a price-to-earnings ratio of 28.51 and a beta of 0.55.

Coca-Cola Consolidated (NASDAQ:COKE) last issued its earnings results on Wednesday, August 5th. The company reported $2.83 earnings per share (EPS) for the quarter. Coca-Cola Consolidated had a negative return on equity of 1,041.59% and a net margin of 7.15%. The company had revenue of $2.05 billion during the quarter.

Coca-Cola Consolidated Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 6th. Shareholders of record on Friday, October 23rd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.5%. The ex-dividend date is Friday, October 23rd. Coca-Cola Consolidated’s payout ratio is presently 13.26%.

Coca-Cola Consolidated Company Profile

Coca-Cola Consolidated, Inc is the largest Coca-Cola bottler in the United States. Based in Charlotte, North Carolina, the company produces, sells, markets and distributes a broad portfolio of nonalcoholic beverages for The Coca-Cola Company and other brand owners.

Its products include Coca-Cola, Diet Coke, Coca-Cola Zero Sugar, Sprite, Fanta, DASANI, smartwater, POWERADE, Minute Maid and fairlife, along with other soft drinks, water, sports drinks, juices, dairy beverages and emerging beverage brands.